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Dealing with Debt Part 2 – Gambling Debt in Canada

mgoldenberg@debtcare.ca April 10, 2012 No Comments

Gambling debt in Canada is an epidemic not unlike the Flu. If you have a gambling debt in Canada, don’t get down on yourself. Addiction is an illness and gambling is something that is highly addictive. Casinos are more accessible than ever in Canada and the euphoria that is felt when you win can cause what would seem like harmless entertainment to turn into a serious life altering addiction. Many

Dealing with Debt Part 1 – Collections Debt in Canada

mgoldenberg@debtcare.ca April 3, 2012 No Comments

Many people have collections debt in Canada. Collection agencies are routinely hired by private businesses to collect money from individuals who have defaulted. When a company assigns an account to a collection agency, the collection agency will add their fees and additional interest to the debt which will cause the debt to grow at a rapid pace. Some collection agencies will use tactics, like calling you several times daily at

Debt to Income Ratio Crisis in Canada – How to Deal with Debt and Protect Your Assets

mgoldenberg@debtcare.ca March 27, 2012 No Comments

While the recession in Canada may have subsided, debt continues to cripple Canadians. So many Canadians struggle with debt for a myriad of different reasons. Many families who find themselves drowning in debt didn’t have it occur simply because of overspending. Those who lost employment or income during the recent recession represent a large group of individuals who have been trying to figure out how to deal with debt. Other

CRA Income Tax Debt and how it Affects Small Business Owners

mgoldenberg@debtcare.ca March 20, 2012 No Comments

It’s tough to be a small business owner. Many small business owners really struggle the first few years that they are in business. When trying to build up a business there can be times where the business does well and times when it does not. Where sole proprietors are concerned their business income is almost one and the same as their personal income. While a sole proprietor can write off

Dealing With Canadian Income Tax Debt

mgoldenberg@debtcare.ca March 13, 2012 No Comments

Tax time is here. For those who anticipate a large refund it is an exciting time. For those who know they will have to pay it is quite the opposite. Thinking about doing your taxes, knowing that you are about to face a large Canadian income tax debt, one that you know you will not be able to pay in full, can be dreadful. One reason it is so scary

Debt Reductions Companies in Canada – Do Your Due Diligence

mgoldenberg@debtcare.ca March 6, 2012 No Comments

When making a big ticket purchase like a vehicle, you do your research right? You check the history of the vehicle, ensure it has not been in accidents, learn about the ownership, check the maintenance record for the vehicle and more. Your personal finances are no different and if you are in financial trouble, before choosing a company to help you, you really should do the same kind of research. “The

Bill Collectors and the Collection Agencies Act – How to Stop Collection Calls

mgoldenberg@debtcare.ca February 28, 2012 No Comments

If you default on payments to creditors the first people you are likely to hear from are bill collectors. Bill collectors are collection agents who work for collection agencies. Having a debt in collections can be stressful and may leave you wanting to figure out how to stop the collection calls from bill collectors. In Ontario, collection services agencies and bill collectors are regulated by the Ministry of Consumer and

What is a Good Budget and What is a Debt Service Ratio?

mgoldenberg@debtcare.ca February 21, 2012 No Comments

The first step to building a positive financial future is to have a budget and to understand your debt service ratios. What is a debt service ratio? There are actually two kinds of debt service ratio. A debt service ratio is a measurement used by the bank to determine if your bills represent an acceptable proportion of your income. The two primary debt service ratios are your gross debt service

Wage Garnishments in Canada – How to Stop a Garnishment on Your Wages

mgoldenberg@debtcare.ca February 14, 2012 No Comments

Thousands of Canadians have their wages garnished each year. In the past few years there have been more instances of individuals having their wages garnished because of the turbulent economy. Wage garnishments in Canada occur when one party believes that another party owes him or her money and pursues enforcement action. Wage garnishments in Canada are generally issued in one of three ways. The first most common reason a wage

What is a Trustee?

mgoldenberg@debtcare.ca February 7, 2012 No Comments

What is a trustee? A trustee is a person who holds property, authority, or a position of trust or responsibility for the benefit of another. In the case of an “estate trustee” the trustee could be a company or an individual. An estate trustee in the case of an individual who dies or is incapacitated, represents the deceased or the incapacitated individual. There are other types of trustees though in

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